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Bloomberg asked Fiat CEO Sergio Marchionne whether Fiat would pull out of the Chrysler deal (money for nothing and your Fiats for free) if it’s not completed by the automaker’s June 15 deadline: “We would never walk away,” Marchionne said. “Never.”
12 Comments on “Fiat CEO: Deadline, What Deadline?...”
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When you are handed a defunk Company with lots of outlets for there old product, you can bet your life that a Company like FIAT that is getting the old Chrysler for more or less free, would not run away from a gift horse imho!
“We would never walk away. Never. Unless this deal costs us something. Then we’ll run.”
Negotiating wise that was one really dumb move.
“Negotiating wise that was one really dumb move.”
I agree. It would make sense for him to be evasive or non-commital, even though he knows that he’s going for it no matter what. This seems very unlike Sergio, I wonder if he had an off day or is there something else at work here?
RF, oh man Dire Straits just happens to be playing on my Ipod right now!
Confirmation that we are bailing out Fiat as well as Chrysler.
Why would he walk away from a free lunch? Fiat needs the free billions of dollars to become solvent.
Dear Sergio,
Thanks for giving us some breathing room.
Love,
SCOTUS
superbadd75 : “We would never walk away. Never. Unless this deal costs us something. Then we’ll run.”
+1 for that.
Negotiating wise that was one really dumb move.
+1 to that.
It would make sense for him to be evasive or non-committal
If I was him, I would create a good cop-bad cop situation, in which he positions himself as the good (hanging in there) against the bad (a nervous board of directors that wants to pull out.) Then he can look like the guy who saved the deal, while dealing with the assault from the US court system and his own group of wise men. Makes for good drama, and he wins either way.
Seems to be agreement Sergio said the wrong thing… more quality leadership for Chrysler.
Fiat may think they are getting a slice of Chrysler for free, but once they take a ownership position with the UAW in place they own part of the loss.
They hope to grab taxpayer money in excess of the future losses.